October 28, 2011, Fairfax, VA—Americans for Limited Government President Bill Wilson today issued the following statement warning that price inflation was playing heavily in reported GDP growth of 2.5 percent:
"There is a fundamental disconnect between what the government is telling us about the economy, and what people are feeling. When every underlying component points to economic pain, with little to no job growth and rising prices, and yet there is an irrational exuberance in the headlines reporting on economic growth, it is hard to reconcile. Unless one takes a look at consumer and producer prices, which are rising rapidly. Inflation, not the economy, is what is apparently really growing."
"Pay No Attention to that Inflation Behind the Curtain," by ALG President Bill Wilson, October 28, 2011 at http://blog.getliberty.org/default.asp?Display=3799 .